Markets may start positive today

18 Aug 2023 , 08:58 AM

On the NSE IX, GIFT Nifty demonstrated a gain of 16.5 points or 0.09%, reaching a level of 19,299.50. This movement indicated a positive opening for Dalal Street on Friday.

In the Asian markets, efforts were being made to establish a more stable foundation on Friday following a challenging week. The markets had been impacted by concerns about China’s weakening economy and apprehensions about prolonged higher U.S. interest rates, leading to a surge in long-term bond yields. MSCI’s comprehensive Asia-Pacific index, excluding Japan, saw a 0.1% increase after hitting a nine-month low the previous session. However, it was on track for a weekly decline of 2.8%, marking the third consecutive week of decreases.

On August 17th, the benchmark indices witnessed a downturn, with the Nifty slipping below the 19,400 mark. The Sensex experienced a decline of 388.40 points or 0.59%, concluding at 65,151.02. Simultaneously, the Nifty observed a decrease of 99.70 points or 0.51%, closing the day at 19,365.30.

According to an article in the Reserve Bank of India’s (RBI) monthly bulletin, inflation is projected to surpass 6% on average during the current quarter.